According to U.Today, San Francisco-based enterprise blockchain company Ripple has reported holding 4.43 billion XRP tokens in its recently published Q3 report. This marks a decrease of approximately 5.24% from the second quarter. Additionally, the total number of XRP tokens locked in the company's escrow reserve has dropped by roughly 1.5%, from 39.5 billion to 38.9 billion. Ripple initially locked a total of 55 billion XRP tokens in escrow wallets back in 2017, which accounted for more than half of XRP's maximum supply.
The report also highlighted that the Ripple-affiliated token experienced elevated trading volumes in the third quarter. Notably, the XRP/BTC ratio saw a significant 27% increase during this period, despite the rising Bitcoin dominance metric. Ripple's ongoing legal battle with the SEC was identified as a key factor influencing the price of the XRP token. Currently, XRP is trading at $0.51, according to CoinGecko data.
